Growth and Inequaltiy

DeLong takes a first stab at squashing the myth that economic growth leads to inequality. (Or vice versa).

Brad DeLong’s Semi-Daily Journal
The relationship between growth and inequality in the U.S. in the twentieth century? None–neither positive nor negative: inequality is high in the fast-growing 1920s and low in the faster-growing late 1950s and 1960s; inequality is not low but high in the depressed 1930s.
[nice graphs]